Investment Objective The investment seeks a high current income and the opportunity for capital appreciation to produce a high total return.
The fund normally pursues its investment objective by investing at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in lower-rated debt securities (commonly referred to as "high yield" or "junk" bonds), including corporate debt securities and convertible securities. It may invest up to 20% of its net assets in foreign securities that primarily are traded outside of the U.S. The fund may invest up to 20% of its net assets in municipal securities. It also may invest in senior loans.